Things can change drastically when you "convert" depending on which rendering intent you use. You don't mention which rendering intent was used.

And as the other poster said, how can an image that is supposedly in sRGB color space being "converted" to sRGB have colors out of gamut for sRGB? That makes no sense.

I don't use LR, I use capture NX2/export to PS so have no idea what the "working" color space is for LR or really anything about LR. I do know something weird is going on in this workflow as far as color management.